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You borrow $15000 and repay monthly over the next five years. Interest is set at 2% per month. Monthly payments are $431.5195. A lump sum
You borrow $15000 and repay monthly over the next five years. Interest is set at 2% per month. Monthly payments are $431.5195. A lump sum payment of $2000 as well as a regular payment was paid at the 25th payment. This leaves the principle remaining to be $8787.39171. If you keep your payments the same and your interest rate does not change, how many more months does it take to pay off your loan?
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